Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Biogen Inc. (NASDAQ:BIIB) by 52.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 129,367 shares of the biotechnology company’s stock after purchasing an additional 44,401 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of Biogen worth $40,507,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. Prentiss Smith & Co. Inc. grew its stake in Biogen by 14.9% in the 2nd quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock valued at $104,000 after buying an additional 50 shares in the last quarter. Atlantic Trust LLC purchased a new position in Biogen in the 2nd quarter valued at approximately $114,000. Independent Portfolio Consultants Inc. grew its stake in Biogen by 93.2% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock valued at $123,000 after buying an additional 219 shares in the last quarter. Massey Quick Simon & CO. LLC grew its stake in Biogen by 84.8% in the 3rd quarter. Massey Quick Simon & CO. LLC now owns 425 shares of the biotechnology company’s stock valued at $133,000 after buying an additional 195 shares in the last quarter. Finally, Carroll Financial Associates Inc. grew its stake in Biogen by 1.2% in the 2nd quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock valued at $134,000 after buying an additional 6 shares in the last quarter. 88.28% of the stock is currently owned by institutional investors.
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Shares of Biogen Inc. (NASDAQ:BIIB) traded down $0.29 during trading hours on Tuesday, hitting $309.17. 796,419 shares of the stock traded hands, compared to its average volume of 1,505,806. The company has a market capitalization of $65,270.00, a P/E ratio of 14.54, a price-to-earnings-growth ratio of 1.96 and a beta of 0.72. The company has a current ratio of 2.19, a quick ratio of 1.90 and a debt-to-equity ratio of 0.46. Biogen Inc. has a 52-week low of $244.28 and a 52-week high of $348.84.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, beating the consensus estimate of $5.70 by $0.61. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.19 earnings per share. equities research analysts expect that Biogen Inc. will post 22.03 earnings per share for the current fiscal year.
A number of research analysts recently weighed in on BIIB shares. Citigroup Inc. lowered shares of Biogen from a “buy” rating to a “neutral” rating in a research note on Monday, October 23rd. Vetr lowered shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 price objective for the company. in a research note on Wednesday, August 23rd. Mizuho set a $400.00 price objective on shares of Biogen and gave the company a “buy” rating in a research note on Monday, November 13th. Stifel Nicolaus reiterated a “hold” rating and issued a $300.00 price objective on shares of Biogen in a research note on Thursday, October 12th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $290.00 price objective on shares of Biogen in a research note on Friday, August 25th. Twelve investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $341.89.
Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).
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